Could you briefly introduce your company and its international history?
Founded in 1992, HTL Biotechnology is a French biotech company and an innovation-driven global leader specializing in the development and manufacturing of pharmaceutical-grade biopolymers: hyaluronic acid and PDRN. Based in Brittany, the company produced its first batch of hyaluronic acid in 2006, focusing heavily on the healthcare market. HTL Biotechnology delivers tailor-made solutions to all its clients and exports 85% of its production to over 30 countries. These premium biopolymers are used in major therapeutic areas – such as ophthalmology, dermatology, aesthetic medicine, and rheumatology – and have a tangible impact on countless patients worldwide.
Our international journey began in South Korea in 2015, then accelerated in 2021 as we doubled down on our presence in Asia and the US. Today, HTL Biotechnology operates across three continents with seven sites, cementing our proximity to local markets through local subsidiaries and boots-on-the-ground teams.
What were the key milestones in your international development?
HTL’s internationalization was built sequentially, progressively opening subsidiaries, followed by a major acceleration driven by the acquisition of a US-based laboratory specializing in a new biopolymer: collagen.
Before any deployment, the company always took the time to assess the markets: measuring client development potential, engaging with key stakeholders at industry congresses, and conducting upfront analyses of regulatory requirements. This exploratory groundwork de-risked our setup decisions: after establishing our Singapore subsidiary in 2022, HTL deepened its Asian footprint by opening offices in China and South Korea in 2023, with another subsidiary launch slated for 2026. Depending on the country, our go-to-market model pivots between direct sales and distribution: we rely on strategic partners in certain markets (notably India, Korea, and China) and local pick-up stores across Europe.
What was the most foundational decision in your global expansion?
Within our geographic expansion strategy, the most foundational decision was opening our first Asian subsidiary in Singapore.
It allowed us to sustainably close the gap with our clients and partners, gain a much sharper understanding of local specificities (market expectations, business practices, culture, and regulatory frameworks), and massively accelerate our response times thanks to a physical presence on the ground. By hiring local teams and driving sales across multiple countries in the region, we triggered genuine growth momentum and earned serious credibility in that part of the world.
What international success makes you the proudest, and why?
One of the successes we are proudest of is acquiring the beauty and biomedical division of the US firm Modern Meadow (based in Nutley, New Jersey), specifically its recombinant protein platform. This deal fast-tracked our R&D by more than ten years and provided us with a premier technological foundation, backed by a globally recognized research lab and highly experienced teams. Most importantly, it unlocked access to a new strategic asset: recombinant collagen, with applications in both cosmetics and biomedical fields.
Our ambition here is twofold: double down on innovation in our legacy segments – aesthetic medicine, rheumatology, and ophthalmology – while paving the way for new therapeutic areas. By combining our manufacturing know-how in pharma-grade biopolymers with this platform, we can develop highly differentiated innovations, leveraging single or combined biopolymers depending on the use case. The complementary expertise with our Javené platform perfectly aligns with this logic: expanding our portfolio, supercharging our innovation pipeline – especially in the US – and granting us access to clients and market segments we hadn’t previously targeted. Finally, it is a very real source of pride to see a French biotech seize a strategic opportunity and successfully pull off an acquisition in the United States.
What has been your biggest international challenge?
Among the major hurdles we had to overcome, the first were local language barriers, geographic distance, and cultural differences. These factors demand relentless attention to ensure the smooth, seamless integration of teams and business practices. On top of that are the legal and regulatory challenges, which are highly specific to each country. This makes it absolutely indispensable to surround yourself with local advisors and experts – law firms and regulatory consultants – to de-risk your decision-making and avoid costly missteps.
Have you experienced a major failure? What key lesson did you learn from it?
We experienced a notable setback when attempting to enter a market we had thought [VC1] highly promising, but where we drastically underestimated the complexity of the regulatory framework and the agonizingly long decision cycles. Despite genuine commercial interest, the project failed to hit its target profitability within the expected timeframe.
In hindsight, that episode taught us that market potential alone is never enough: you must validate the concrete execution conditions, the required on-the-ground resources, and the caliber of local partners very early in the process. That failure forced us to become far more rigorous in how we prioritize markets and calibrate our global investments.
How do you practically manage geopolitical risks in your global operations?
You cannot anticipate every geopolitical shock – whether that is escalating tensions in the Middle East or elsewhere – but you can prepare for them by maintaining highly granular situational awareness. Practically speaking, this means continuously monitoring regulatory shifts and sanction regimes (such as those concerning Russia), but also running regular impact assessments on both our operations and our clients’ businesses.
For example, in 2025, we modeled several scenarios around US tariff hikes, measuring the fallout not just for HTL, but the ripple effects for our clients as well. Concurrently, we actively sought to reduce our exposure through structural choices, like maintaining a 100% European supplier base, and we proactively adjust our commercial terms – specifically payment conditions and security – to protect the top line.
What major shifts do you believe SMEs and mid-caps must embrace to adapt to the “new normal” in global business?
To adapt to the global “new normal,” SMEs and mid-caps must first and foremost consolidate their fundamentals. This means perfectly mastering their internal operating models and structuring a governance framework that is clear and cohesive enough to be replicated abroad. This rock-solid baseline is essential in an increasingly fragmented environment, where companies must simultaneously diversify their markets to mitigate geopolitical and economic risks. The escalating weight of regulatory requirements also makes it mandatory to bring in local expertise – legal, tax, HR, and compliance – to de-risk every market entry.
At the same time, digital transformation and the rise of AI are non-negotiable levers for steering multi-country organizations, harnessing data, and driving operational efficiency.
Supply chains must also be completely re-engineered – no longer driven solely by cost optimization, but by resilience, through the diversification of partners and manufacturing footprints. Finally, in an era of perpetual uncertainty, agility becomes the ultimate competitive advantage: having a single strategy is no longer enough; you need multiple contingency scenarios, and you must know when to centralize versus when to adapt locally, often by leaning heavily on boots-on-the-ground partners.
Moving forward, what do you believe is the best model for international expansion?
There is no single “silver bullet” model to prioritize. Over the past three years, we have successfully pulled all three levers depending on the market.
In some countries, the right entry point remains commercial partnerships via distributors. Elsewhere, organic growth through the creation of a local subsidiary is the obvious path. And in highly targeted situations, external growth via M&A can massively accelerate access to a specific technology, a client base, or a geographic footprint. Ultimately, it is your granular understanding of the country and its market dynamics that allows you to make the call and deploy the most relevant model.
In your view, what role should a partner like Altios play tomorrow to help you accelerate globally?
Tomorrow, a partner like Altios must first continue to deliver robust local market expertise with a true “360-degree” read on ground realities: financial, HR, cultural, managerial, and accounting frameworks. They must also be able to match the specific operational realities of each company – its constraints, pacing, priorities, and size – to deliver genuinely bespoke support, rather than off-the-shelf solutions. Finally, in an increasingly volatile globalized landscape where rules and power balances shift rapidly, that role requires staying hyper-agile and responsive, keeping a pulse on the exact needs of SMEs and mid-caps.
How do you get your teams on board with complex global projects moving forward?
To sustainably secure team buy-in on complex global projects, you must first invest in people development: training, empowerment, and progressive exposure to cross-functional missions. It also requires the ability to provide a clear sense of purpose, translating new global challenges so that everyone understands both the “why” and the “how.” Ultimately, success is a collective team sport: you have to build bridges between sites, facilitate collaboration with new colleagues, and actively manage cross-cultural dynamics on a daily basis. The goal is to turn diverse business practices into a performance driver, rather than a source of friction.
The indispensable skills moving forward will be agility, deep domain expertise, and above all, the open-mindedness required to thrive in multicultural environments. During the initial years of a new market setup, retaining a bit of a “French touch” within the teams – with employees capable of bridging the gap between HQ and the field – can also smooth out the integration process, especially when the initial processes and sites remain heavily Francophone.
What three pieces of advice would you give an SME executive looking to accelerate globally?
Number one: Pick your battles and stay the course. It is vastly better to successfully execute one market entry or transaction at a time than to chase too many rabbits. In particular, actively avoid running two M&A operations simultaneously.
Number two: Steer with scenarios, not certainties. Build your primary roadmap, but bake in your Plan Bs (and sometimes Plan Cs) from day one. This keeps you agile in the face of regulatory, economic, or geopolitical curveballs.
Number three: Drop local anchors, fast. Surround yourself with trusted local partners across legal, regulatory, finance, and HR. This secures your day-to-day execution and massively accelerates your market learning curve.
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